July 29, 2024
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RNFI Services IPO GMP grey market premium, review, Subscription, allotment, listing estimate @
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RNFI Services IPO listing Review
On 29th July 2024, the scrip is listed at Rs. 199.50, at the premium-cap of 90%. Because of the listing cap, the listing has been at a lower price.
RNFI Services allotment Link
What was the last grey market premium of RNFI Services IPO?
Premium Rs. 90
Subscription status of RNFI Services IPO
RNFI Services IPO (Closed)Price Rs. 105 Lot 1200 shares, Rs. 46.75 Crore |
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| QIB | NII X | RII X | Total X | Applications |
| 140.66 | 513.31 | 142.62 | 221.49 | 264564 / (142.62x) |
| Bids of Rs. 10355 Crore received | ||||
| Note: Impressive subscriptions collected | ||||
What is the business of RNFI Services?
RNFI Services is a leading tech-enabled platform delivering cutting-edge financial technology solutions across the B2B and B2B2C sectors nationwide. Through its integrated online portal and mobile application, it specializes in banking, digital, and Government to Citizen (G2C) services. Its business is segmented into four key areas: business correspondent services, non-business correspondent services, full-fledged money changer services via its wholly owned subsidiary RNFI Money Private Limited (an RBI-registered FFMC), and insurance broking through Reliassure Insurance Brokers Private Limited, registered with IRDAI as a direct broker for life and general insurance.
It has established partnerships with eight major financial institutions, including national private and public sector banks and payment banks, serving as their trusted business correspondents for financial inclusion services. Its expertise extends to providing doorstep KYC authentication services for prepaid cards and Fastag across India.
Since inception, RNFI Services has achieved significant milestones, processing over 75 lakh monthly transactions as of September 30, 2023. Its extensive distribution network spans 28 states, 5 Union territories, and 16,500 pin codes nationwide. As of December 31, 2023, its dedicated team of 1,154 employees has been instrumental in driving its continued growth and success.
Get more information about the company @ RNFI Services Limited
RNFI Services IPO Details |
|
| IPO opens on | 22 July 2024 |
| IPO closes on | 24 July 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 6744000 Shares / Rs 70.81 Crore |
| * Fresh Issue | 6744000 Shares / Rs 70.81 Crore |
| * Offer for Sale – | |
| Market Maker Portion | 384000 Shares |
| Net offer to Public | 6360000 Shares/ Rs.66.78 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs.98-105 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
||
| Shares | Rs. (Crore) | |
| QIB (50%) | 3180000 | 33.39 |
| NII (15%) | 954000 | 10.02 |
| RII (35%) | 2226000 | 23.37 |
| Total Shares | 6360000 | 66.78 |
| Retail portion will be oversubscribed by | 1855 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 1200 Shares | Rs.126000 |
| Min HNI Application | 2400 Shares | Rs.252000 |
Who are the Promoters of RNFI Services IPO?
The promoters of the company are RANVEER KHYALIYA, NITESH KUMAR SHARMA, SIMRAN SINGH PRIVATE TRUST
What are the Objects of RNFI Services IPO?
The Offer comprises of only fresh issue of shares.
The objectives of the Offer are to:
1. Funding the working capital requirements of the Company
2. Funding Capital expenditure requirements for the Purchase of Micro ATMs/laptops/Server
3. Strengthening our technology infrastructure to develop new capabilities
4. Achieving inorganic growth through unidentified acquisitions and other strategic initiatives
5. General Corporate Purposes
Tentative timetable |
|
| IPO opens on | 22 July 2024 |
| IPO Closes on | 24 July 2024 |
| IPO Allotment on | 25 July 2024 |
| Refund Initiation | 26 July 2024 |
| Credit of Shares | 26 July 2024 |
| Listing on | 29 July 2024 |
| Registered Office of the Company UG-5, Relipay House, Plot No. 42 DLF Industrial Area Kirti Nagar, West Delhi, New Delhi, Delhi, India, 110015 |
| Who is the Lead Manager of this IPO? Choice Capital Advisors Pvt ltd |
| Who is the Registrar to IPO? Skyline Financial Services Pvt Ltd |
RNFI Services IPO Financial & Analytical Ratios |
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| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Crore | Rs. | % | |
| 2021-22 | 190.80 | 5.55 | 2.94 | 49.42 |
| 2022-23 | 1069.40 | 4.89 | 3.03 | 31.99 |
| 2023-24 | 530.31 | 5.52 | 3.16 | 24.44 |
| Book Value of the Share on 31.03.2024 | 31.03.2023 | Rs 11.47 | ||
| BV of the Share at cap price | after the IPO | Rs. | ||
| Offer Price/upper band | Rs. 105 | |||
RNFI Services IPO
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|
| Price/last EPS of 22-23 | 19.55 |
| Price/BV Ratio | 9.15 |
| Upper price/BV after IPO | – |
How RNFI Services IPO compares with the Peers?
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Kataria Industries | 10 | 262 | 19.55 |
| Kamdhenu ltd | 10 | 732 | 39.76 |
| Incredible Industry | 10 | 741 | 45.19 |
| Bharat Wire Rope | 10 | 589 | 33.88 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
RNFI Services IPO Review
RNFI Services is a tech enabled platform offering advanced financial technology solutions in B2B and B2B2C financial technology arena through an integrated business model via its online portal and mobile application, focusing on providing banking, digital and Government to Citizen (“G2C”) services on PAN India basis. It segregates its business primarily into four (4) segments namely (i) business correspondent services; (ii) non-business correspondent services; (iii) full-fledged money changer service; and (iv) insurance broking.
Size: Net size of the IPO is Rs. 66.78 crore, which is somewhat large, compared to other SME IPOs. The retail portion is Rs. 23.37 Crore and NII portion is Rs.10.02 Crore.
Financial Snapshot: The company has displayed strong revenue and net profit during last 3 years. The shares are offered at reasonable valuations, compared to peer group companies.
+ from fundamental angle: Apply
+ from grey market angle: ?
Quicklinks
RNFI Services IPO GMP today allotment, review?
RNFI Services IPO GMP grey market premium
RNFI Services IPO FAQs
What is RNFI Services IPO?
This is a SME IPO of 6744000 equity shares of the face value of Rs. 10 aggregating up to Rs.70.84 Crores. The issue is priced at Rs.98-105 per share. The minimum order quantity is 1200 Shares.
When will RNFI Services IPO subscription open?
The IPO opens on July 22, 2024, and closes on July 24, 2024.
What is the lot size of RNFI Services IPO?
The IPO lot size is 1200 Shares, and the minimum amount required is Rs.126000
How to apply for RNFI Services IPO?
You can apply in this IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
When is RNFI Services IPO allotment?
The finalization of Basis of Allotment for this IPO will be done on 25 July, 2024, and the allotted shares will be credited to your demat account by July 26, 2024.
When is RNFI Services IPO listing date?
This IPO listing date is July 29, 2024.
